ADB considers issuing bonds

ADB considers issuing bonds

MANILA (AP): The Asian Development Bank said Wednesday its
board has approved raising US$3.4 billion in the international
capital market for financing requirements this year - and part
might be raised in Asia's emerging markets.

ADB Assistant Treasurer Peter Balon said the bank's borrowing
requirement will probably rise sharply to between $7.5 billion
and $8 billion next year. This would finance maturing debt which
the bank raised during the international rescue of several Asian
economies battered by the 1997-98 financial crisis.

Balon told Dow Jones Newswires that a U.S. global bond and
structured private placements would take up the bulk of the
funding requirement for this year.

Structured private placements will raise the equivalent of $1
billion to $1.5 billion through U.S. dollar, yen and euro issues.

Balon said the ADB has been working in the past 18 months to
try and issue bonds in some Asian economies, including the
Philippines, Thailand, India, China, Malaysia and Singapore.